WORLD BUSINESS BRIEFING: EUROPE

WORLD BUSINESS BRIEFING: EUROPE; VOLKSWAGEN CAPITAL INCREASE

Published: June 3, 1999

Shareholders of Volkswagen A.G. gave nearly unanimous approval to a measure allowing the company to increase its basic capital by up to 782 million marks from the current 2.1 billion. Shareholders also approved a measure allowing the company to issue 1.5 billion marks in options and convertible bonds. The chairman of VW's management board, Ferdinand Piech, said the company had no concrete takeover plans but would be interested in acquiring a truck maker.